The Indian Enforcement Directorate has uncovered a cryptocurrency scam network, with money laundering traced back to 2015

The Enforcement Directorate (ED) of India raided a total of 21 residential and office locations in Karnataka, Maharashtra, and New Delhi as part of a money laundering investigation, uncovering a network of a fraudulent cryptocurrency investment platform.

The gang has been operating since 2015, using celebrity images and fake trading websites to promise high returns, attracting investors from India and abroad, and laundering funds through cryptocurrency wallets, P2P transfers, shell companies, and underground money exchanges. Currently involved websites include goldbooker.com, cryptobrite.com, among others, and official investment risk warnings have been issued.